Bitcoin: A Close Below $13k, Opens the Door to $8500
This chart shows bitcoin vs US Dollar on a Daily time frame. Notice the 4 colored lines. These are custom scripts that show good levels to buy and sell the instrument.
A close below the Blue line could open the door for a trip to the Red line, which is currently around $8500. That level would be bearish and I would consider shorting it there.
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The custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter.
A close below the Blue line could open the door for a trip to the Red line, which is currently around $8500. That level would be bearish and I would consider shorting it there.
___
The custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter.
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@mastercharts
Visit my financial blog & get alerts : masterchartstrading.com/blog
@mastercharts
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